A Special Purpose Acquisition Company (SPAC) is a type of publicly traded investment vehicle that is created specifically to acquire or merge with another company. SPACs are also sometimes called “blank check companies” because they are set up with the sole purpose of raising capital through an initial public offering (IPO) to later identify and merge with an existing private company.
Colonnade: Under The Radar Lidar SPAC
While other lidar stocks have zoomed higher following SPAC deals, Colonnade Acquisition (CLA) still trades around $13. Back on December 22, the SPAC agreed to a business combination with lidar sensor developer Ouster which will trade under “OUST” on the NYSE.
Luminar Technologies More Than Doubles Post SPAC Merger
Peter Thiel-backed Luminar Technologies Inc. briefly touched an all-time high within days of emerging as a standalone company as investor excitement over developers of laser-sensors that enable autonomous driving (lidar) ramped up.
David Crane is back, with a climate-tech SPAC
One of the hottest 2020 trends in raising capital is infiltrating climate-tech investing. As of mid-September, the stock market had welcomed at least 82 initial public offerings this year by special purpose acquisition companies (SPACs) — organizations that collectively raised more than $31 billion. Last week, former NRG Energy CEO David Crane joined the frenzy.
Reid Hoffman, Zynga’s Mark Pincus aim to raise $600M for tech-focused SPAC
Reinvent Technology Partners, a new special purpose acquisition company formed by famed investor and serial entrepreneur Reid Hoffman, Zynga founder Mark Pincus and veteran hedge fund manager Michael Thompson, filed Monday for a $600 million initial public offering.